President Obama Announces Plans to Address Poverty

Economically depressed communities across America may be getting a much-needed boost ? and soon. Last week, in an effort to combat income inequality, President Barack Obama announced his plans to invest in ?Promise Zones.?

The president shared his intentions at his 2012 State of the Union address, but made the formal announcement on Thursday.?

During the 2012 address, the president said his administration plans, ?to partner with 20 of the hardest-hit towns in America to get these communities back on their feet. We’ll work with local leaders to target resources at public safety, and education, and housing.”

On Thursday, he followed up on those plans by identifying the first five ?zones?: San Antonio; Los Angeles; the Choctaw Nation of Oklahoma; Kentucky; and Philadelphia. Targeted neighborhoods in those cities will be the first to receive assistance.